ReBoot the 360

Managing people is a complex endeavor. Given the right combination of people, interpersonal skills, cultural dynamics and motivation, a company can create a happy, productive, engaged workforce. That kind of success doesn’t happen by accident. It takes the right executed approach.

The “360” performance review concept, when first introduced, opened up a new, fresh approach to managing. By polling an employee’s direct reports, peers and even customers, gathering diverse opinions from different perspectives, a company could gain new insight into its people.

After years in practice, though, the 360 review has revealed its flaws. People providing feedback often don’t know enough about an employee’s day-to-day work, challenges and responsibilities. As a result, comments can tend to be personality-based, as opposed to a valuable additional perspective. This feedback can even be damaging and misguided.

Disrupting the 360 Model

The first step in steering the 360 back on course is to get clear on what matters. What’s germane in a 360 review? Here are some fundamentals:

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Part 2: Ignite your Culture – How to Create a People Centered Business

A happy workforce is good for business. That translates to an environment where employees are inspired – where people WANT to make a difference. In this people-centered paradigm, strategists are looking beyond questions like “how can we be profitable?” Instead, they’re asking questions like “how can we be a great place to work?”

Companies that embrace the great-place-to-work model are at a competitive advantage in the war for talent. The best candidates are seeking those companies out. That’s making it more imperative for other aggressive companies to adopt that model as a key business goal.

What steps can a company take to be a great place to work? It starts with understanding key components of workplace satisfaction.

Employee engagement – companies with top-to-bottom engagement are more productive and perform better financially.  Engagement means staff are passionate and positive about what they do, and feel aligned with the company mission and goals.

Transparency – this came up as the #1 factor in a 2013 survey by Tinypulse. Open communication is key. The more employees feel connected with management, coworkers and work teams, the happier and more engaged they are.

Appreciation – being recognized for their work came out #1 in a huge Boston Consulting Group survey of over 200,000 people from around the world.

Other factors like compensation and company stability ranked high also, but focusing on the 3 above guides us to a key understanding: that a culture with open, positive communication can lead directly to a better workplace.

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Part 1: Can you afford “not” to have a people centered approach to Business?

Are we looking at business backward? Success is driven and measured in financial terms, but people are the heart of business. People matter most, and paradigms are changing to reflect that. New business traditions are emerging that value human factors side-by-side with financial ones. Employee satisfaction is as important as profitability.

How can success be viewed in terms of human capital rather than financial capital? Harvard Business Review poses some intriguing questions, and offers illuminating insight, in a new article on talent management.

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